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GBPUSD traded in a narrow range between 1.7471 and 1.7707

Discussion in 'Major Currency Pairs' started by ForexCycle.com, Sep 10, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD traded in a narrow range between 1.7471 and 1.7707 on 4H chart. Further fall towards 1.7000 zone could be seen in a couple of days, and a break below 1.7471 level will signal resumption of down trend. Initial resistance is at the down trend line from 1.8794 to 1.7974, only rise above this trend line resistance will indicate lengthier consolidation is underway, and rebound would bring price to test 1.7974 previous high.

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